Saudi Aramco’s 2019 IPO made it the world’s most valuable listed company at about $1.9 trillion.
Saudi Aramco began trading on the Saudi Stock Exchange, or Tadawul, in December 2019. Its initial public offering valued the company at roughly $1.9 trillion, making it the largest listed company by market capitalization at that point and giving the Saudi government a major public-market valuation for its oil enterprise.
The offering sold a relatively small portion of the company compared with the size of the overall business. Its valuation was closely linked to Saudi Aramco’s enormous oil reserves, production capacity, refining operations, and role in global energy markets.
Saudi Aramco is not the same entity as Saudi Arabia’s sovereign wealth fund, the Public Investment Fund. The company is an energy producer, while the fund owns investments across many industries. Oil prices, production policy, and investor sentiment can all move Saudi Aramco’s market value after listing.